Francesca’s Holdings Corp (NASDAQ: FRAN) is having a great start to the trading session this morning, and for good reason. The company announced a partnership agreement, exciting investors. Here’s what’s going on:
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FRAN Stock Clinbs On Partnership
In the press release, Francesca’s Holdings announced that it entered into a partnership with Poq. The goal of the partnership is to develop francesca’s first mobile applications.
FRAN said that the plans to launch a mobile application is part of its effort to meet customers wherever, whenever and however she chooses to shop. As such, the company will launch a new iOS app this summer and a new Android app later this year.
The company said that both apps will be aviailable for Black Friday and the holiday season.
In the release, the company said that the application will be designed to enhance the customer experience when she engages the app on her smartphone. The new digital format will provide an elevated design, improved navigation and better ease of use.
In a statement, Andrew Clarke, CEO at FRAN, had the following to offer:
During the temporary store closure period resulting from the COVID-19 pandemic, our ecommerce business surged. Given the accelerating shift to online shopping, we are excited to be stepping up our digital transformation strategy with the launch of this mobile app. In addition to enhancing her online shopping experience, the app will provide valuable insights into how customers interact with our brand, enabling us to interact with her in a more relevant and impactful way. After careful consideration, we chose Poq for this project based on their extensive expertise in building mobile shopping apps that empower businesses like ours to engage customers and facilitate financial success.
The above statement was followed up by Mike Hann, President of Poq. Here’s what he had to say:
It’s important to see brands like francesca’s placing app commerce at the center of their digital transformation strategy and doubling down on mobile in light of the recent changes in consumer behavior.” He continued, “We look forward to working together with francesca’s® to bring shoppers a superior and unified omnichannel shopping experience.
This Is Big News
The news issued this morning is overwhelmingly positive for Francesca’s Holdings and its investors. First and foremost, consumers are shifting their shopping habits, with more and more purchases happening on smartphones. This is an attempt to meet the customer demand for smartphone shopping, and should all go well, will greatly increase revenue for the company.
Moreover, while the economy is reopening in the United States, COVID-19 is still far from behind us. As such, many consumers are more willing to shop online and on smartphones than they are to walk into the doors of a retail store.
As such, FRAN is meeting its customers when and where they want to shop with this move, making the stock hard to ignore.
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